
FORE:The Marquis of Granby resigned his posts as Paymaster-General of the Ordnance and Commander-in-Chief of the Army, much to the annoyance and against the entreaties of the king and the Duke of Grafton. Camden would have done the same, but as the Ministers were anxious to be rid of him, Chatham and his friends counselled him to remain, and put the Ministry to the odium of dismissing him. This was done, and thus two of the men most popular with the publicGranby and Camdenwere lost to the Administration. The Seals, as Lord Shelburne had predicted, went a-begging. Charles Yorke, second son of the former Lord Chancellor, Hardwicke, had all his life been hankering after this prize, but as he was closely pledged to the party of Lord Rockingham, he most reluctantly declined it. Three days subsequently, however, the king, after the levee, suddenly called him into his closet, and so pressingly entreated him to accept the Seals and rescue his sovereign from an embarrassment, that he gave way. This was on the 18th of January. He was to be raised to the peerage by the title of Lord Morden, but, on encountering the keen reproaches of his party at Lord Rockingham's, he went home and committed suicide. The Seals were then successively offered to Mr. de Grey, the Attorney-General, to Sir Eardley Wilmot, and Lord Mansfield, who refused them, and they were obliged to be put in commission, Lord Mansfield consenting to occupy the woolsack, as Speaker to the House of Lords, till that was done. After some time, Sir Sidney Stafford Smythe, one of the barons of the Exchequer, the Honourable Henry Bathurst, one of the justices of the Common Pleas, and Sir Richard Aston, one of the justices of the King's Bench, were named the commissioners.The queen closed the session on the 9th of July, assuring the Parliament that her chief concern was for the preservation of our holy religion and the liberty of the subjectthis liberty having been most grievously invaded by her through the Schism Bill. But the dissolution of her Ministry was also fast approaching. The hostility of Oxford and Bolingbroke was becoming intolerable, and paralysed all the proceedings of Government. As for Oxford, he felt himself going, and had not the boldness and[20] resolution to do what would ruin his rival. He coquetted with the WhigsCowper, Halifax, and others; he wrote to Marlborough, and did all but throw himself into the arms of the Opposition. Had he had the spirit to do that he might have been saved; but it was not in his nature. He might then have uncovered to the day the whole monstrous treason of Bolingbroke; but he had himself so far and so often, though never heartily or boldly, tampered with treason, that he dreaded Bolingbroke's retaliation. Bothmar, the Hanoverian envoy, saw clearly that Oxford was lost. He wrote home that there were numbers who would have assisted him to bring down his rival, but that he could not be assisted, because, according to the English maxim, he did not choose to assist himself. Swift endeavoured, but in vain, to reconcile his two jarring friends; and Oxford finally utterly lost himself by offending the great favourite, Lady Masham. He had been imprudent enough to oppose her wishes, and refuse her some matter of interest. He now was treated by her with such marked indignity, that Dr. Arbuthnot declared that he would no more have suffered what he had done than he would have sold himself to the galleys. Still, with his singular insensibility to insult, he used to dine at the same table with her frequently, and also in company with Bolingbroke, too.

FORE:The new Parliament met on the 14th of November. Mr. Manners Sutton was re-elected Speaker. A week was spent in the swearing-in of members, and on the 21st the Session was opened by the king in person. In the Royal Speech allusion was made to the throwing open of the ports for the admission of foreign grain, and the distress that had visited the manufacturing districts. The Address was carried in the Upper House without a division, and in the Lower House an amendment, moved by Mr. Hume, found only twenty-four supporters. On the 5th of December Alderman Waithman moved for a committee of inquiry with reference to the part taken by members of Parliament in the Joint Stock mania of 1824-5-6. He stated that within the last three years six hundred joint-stock companies had been formed, most of them for dishonest purposes. The directors of these fraudulent schemes worked with the market as they pleased, forcing up the prices of shares to sell, and depressing them to buy, pocketing the difference. He dwelt particularly on the Arignon Mining Company, of which the late chairman of the Committee of Ways and Means, Mr. Brogden, had been a director. The directors of this company, besides an allowance of three guineas per day for the use of their names, had divided between them a large surplus, arising from traffic in shares. Other members of the House, he alleged, had enriched themselves by bubble companies, particularly Sir William Congreve. At the suggestion of Mr. Canning, the inquiry was restricted to the Arignon Company. A vast amount of loss and suffering had been inflicted by these bubble companies. A check was given to the steady and wholesome progress of the country by the fever of excitement, followed by a sudden and terrible collapse. Healthful commerce was blighted, and one of the worst results of the revulsion was that it not only swept away the delusive projects of adventurers, but paralysed for a season the operations of legitimate enterprise. The commercial atmosphere, however, had been cleared by the monetary crisis of 1825-6. An extensive decomposition of commercial elements was effected. Masses of fictitious property were dispersed, and much of the real capital of the country was distributed in new and safe channels, which caused the year 1827 to open with more cheering prospects.The motion of Fox was negatived by a large majority, and on the 21st of June the king prorogued Parliament.

FORE:Such were the difficulties which Ministers had to contend with for commencing the war at sea. In one particular, however, there was more liberality; money was ungrudgingly voted; the land-tax was raised from two to four shillings in the pound, and the Sinking Fund was so freely resorted to, that the supplies altogether amounted to upwards of four millions. During these discussions, news came on the 13th of March, that on the 21st of November, 1739, Admiral Vernon had taken Porto Bello from the Spaniards. This was good news for the Opposition, for Vernon was one of their party, and a personal enemy of Walpole. There were great rejoicings and the Lords sent down an address of congratulation to the king, for the concurrence of the Commons. Yet in this they could not avoid making a party matter of it, the address stating that this glorious action had been performed with only six ships, and thus to mark[73] the contrast with the doings of Admiral Hosier in those seas, and so to blacken his memory. The address was carried in a thin House, but only by thirty-six against thirty-one, so that along with the news went the comment to Vernon, that the Ministry begrudged him his glory. Parliament was prorogued on the 29th of April, 1740, and the king set off on his summer visit to Hanover.

FORE:The ordinance was disallowed at home. Lord Brougham, who had never forgiven his former colleagues the constitution of the Cabinet without his forming a part of it, signalised himself by the extreme bitterness with which he headed the onslaught. The result was that, after protracted debates in both Houses of Parliament, which occupied the whole of the summer, and fill up nearly 500 pages of the Parliamentary Proceedings, the ordinance was annulled by Act of Parliament; but an Act was passed indemnifying Lord Durham and the Canadian authorities. The majority in the Commons was so large that the Opposition did not venture on a division; and in the Lords the disallowance was carried by a majority of 54 to 36. This result occurred on the 10th of August, and Lord Durham saw the news first in the American newspapers. Lords Melbourne and Glenelg softened the matter to him as well as they could; the former communicated the intelligence with the greatest regret and the deepest apprehension as to its consequences. Lord Durham betrayed his mortification unwisely in a proclamation which he immediately issued. As the banishment was an exception to the general amnesty he had published, he informed the prisoners at Bermuda that her Majesty being advised to refuse her assent to the exceptions, the amnesty existed without qualification, and added"No impediment, therefore, exists to the return of the persons who have made the most distinctive admission of guilt, or have been excluded by me from the province on account of the danger to which it would be exposed by their presence."The temper of Townshend was warm, though his nature was upright; and in this mood, a discussion taking place on foreign affairs at the house of Colonel Selwyn, the dispute became so heated that Walpole declared that he did not believe what Townshend was saying. The indignant Townshend seized Walpole by the collar, and they both grasped their swords. Mrs. Selwyn shrieked for assistance, and the incensed relatives were parted; but they never could be reconciled, and, after making another effort to obtain the dismissal of Newcastle, and to maintain his own position against the overbearing Walpole, Townshend resigned on the 16th of May. He retired to Reynham, and passed the remainder of his life in rural pursuits. One of the greatest benefits which he conferred on this country he conferred after his retirementthat of introducing the turnip from Germany.
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